Allstate will greet its Texas customers with an insurance rate increase in the new year. The insurer plans to increase rates 5.4 percent statewide for 450,000 Allstate Texas Lloyds customers starting Jan. 20. That’s about a $64 increase for the average policyholder.Those customers’ rates last rose 18 months ago, by 5.5 percent.
Rates for about 175,000 homeowners insured by Allstate Texas Fire and Casualty will rise 9.7 percent. That’s an average $115 increase annually, according to the company.Those rates rose 9.8 percent in late 2009.
A spokesman for the Texas Department of Insurance said state insurance regulators are reviewing the filing. In Texas, insurers raise rates upon notifying regulators, but the Insurance Department can order a reduction and repayment of overcharges if it finds the rates are unjustified or excessive.